Is Lamb Weston Holdings (LW) an Attractive Defensive Stock?

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Enhanced Equity Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined -12.74% net compared to a -16.10% return for the S&P 500 Index. The portfolio strategy to mitigate capital losses helped the fund to outperform in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Meridian Funds highlighted stocks like Lamb Weston Holdings, Inc. (NYSE:LW) in the Q3 2022 investor letter. Headquartered in Eagle, Idaho, Lamb Weston Holdings, Inc. (NYSE:LW) is a frozen potato product producer and distributor. On December 8, 2022, Lamb Weston Holdings, Inc. (NYSE:LW) stock closed at $86.50 per share. One-month return of Lamb Weston Holdings, Inc. (NYSE:LW) was 5.69% and its shares gained 51.62% of their value over the last 52 weeks. Lamb Weston Holdings, Inc. (NYSE:LW) has a market capitalization of $12.441 billion.

Meridian Funds made the following comment about Lamb Weston Holdings, Inc. (NYSE:LW) in its Q3 2022 investor letter:

“A core hedged holding in the Fund, Lamb Weston Holdings, Inc. (NYSE:LW) benefited from its defensive profile as a leading producer of affordable food staples: French fries and other frozen potato products. In addition to maintaining a leading market share in an attractive consumer category, the scale of the company’s processing and distribution capabilities represents a wide competitive moat, it’s seeing favorable supply and demand dynamics, and it possesses a healthy balance sheet. The restaurant industry’s rebound also bolstered the company’s outlook.”

Lamb Weston Holdings, Inc. (NYSE:LW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Lamb Weston Holdings, Inc. (NYSE:LW) at the end of the third quarter, which was 35 in the previous quarter.

We discussed Lamb Weston Holdings, Inc. (NYSE:LW) in another article and shared the best best agriculture stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.